KUALA LUMPUR (March 18): Metronic Global Bhd is aiming for US$1 billion worth of 5G technology smart city solution projects in the next three years both within and outside the country.
The total building management engineering solutions provider said it is in the midst of finalising tenders for several huge potential engineering projects worth up to RM300 million in Malaysia and across Southeast Asia.
The group is also eyeing projects in Europe, the US and the Middle-East, it said in a filing with Bursa Malaysia.
“Our aim is not too far-fetched. US$1 billion market share is less than 1% of global investments in smart city technologies, which is expected to rise to US$135 billion by 2021,” said Metronic CEO Brian Hoo Wai Keong.
Metronic also announced that its subsidiary, Metronic Engineering Sdn Bhd, has inked a Memorandum of Understanding with Hong Kong-listed Zhuhai Singyes New Materials Technology Co Ltd to offer world-class proven smart city technology solutions, connecting infrastructure with Internet of Things and 5G capabilities.
This is to support the 11th Malaysia Plan’s Smart City initiatives, such as Greater Kuala Lumpur, Smart Selangor and Putrajaya Smart City, coupled with other local councils, township developments, community parks and integrated government departments.
“Smart city technology solutions from Singyes such as Smart Light-adjusting Film/LED/Glass, sensor networks, advanced composites lighting/CCTV systems with infrastructure integrated, renewable energy solar solutions and 5G capabilities, allows for a safe and healthy smart living environment, and bodes well for Malaysia’s smart city initiatives across the country, said Hoo.
Singyes managing director Tang Li Wen said the company is excited to partner Metronic.
“Our proven technology solutions has adorned world-class buildings such as Shanghai Yaohan, Shanghai Le Meridien Hotel, Dalian Hekou Station’s railway platforms, Suzhou Nikko Hotel, The Langham Hotel (Hefei), W Hotel (Suzhou), Zhuhai Yuhai Global Financial Center, Suzhou Sun Wu Cultural Park, One Shenzhen Bay, Foshan Guangfa Bank, Guangzhou Grandplaza, Cadillac China 4S Head Office, and various renowed commercial buildings across Shanghai,” he said.
Shares of Metronic rose 0.5 sen or 7.14% to close at 7.5 sen, valuing the group at RM24.07 million. The group saw 15.36 million shares traded.